Pakistan Refinery Valuation

Is PRL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of PRL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: PRL (PKR26.73) is trading above our estimate of fair value (PKR9.5)

Significantly Below Fair Value: PRL is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PRL?

Key metric: As PRL is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for PRL. This is calculated by dividing PRL's market cap by their current revenue.
What is PRL's PS Ratio?
PS Ratio	0.06x
Sales	PK₨294.27b
Market Cap	PK₨16.84b

PRL key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.1x
Enterprise Value/EBITDA	-14.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does PRL's PS Ratio compare to its peers?

The above table shows the PS ratio for PRL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	0.1x
NRL National Refinery	0.06x	n/a	PK₨19.1b
CNERGY Cnergyico PK	0.1x	n/a	PK₨25.4b
SHSML Shahmurad Sugar Mills	0.3x	n/a	PK₨8.5b
SHEL Shell Pakistan	0.08x	n/a	PK₨33.2b
PRL Pakistan Refinery	0.06x	n/a	PK₨16.8b

Price-To-Sales vs Peers: PRL is good value based on its Price-To-Sales Ratio (0.1x) compared to the peer average (0.1x).

Price to Sales Ratio vs Industry

How does PRL's PS Ratio compare vs other companies in the Asian Oil and Gas Industry?

82 Companies	Price / Sales	Estimated Growth	Market Cap
Industry Avg.	0.8x	1.2%
PRL Pakistan Refinery	0.06x	n/a	US$60.59m

82 Companies		Estimated Growth	Market Cap
Industry Avg.	0.8x	-4.4%
PRL Pakistan Refinery	0.06x	n/a	US$60.59m

No more companies

Price-To-Sales vs Industry: PRL is good value based on its Price-To-Sales Ratio (0.1x) compared to the Asian Oil and Gas industry average (0.8x).

Price to Sales Ratio vs Fair Ratio

What is PRL's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PRL PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.06x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate PRL's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.